Tag Archives: United States

US stocks set more records as Verizon begins a big week for profit reports with a beat

US stocks set more records as Verizon begins a big week for profit reports with a beat

NEW YORK (AP) — U.S. stocks are rising toward more records ahead of a week full of profit updates from big U.S. companies. The S&P 500 rose 0.6% Monday and was above its all-time high set on Thursday. The Dow Jones Industrial Average climbed 217 points, and the Nasdaq composite added 0.7% to its own record. Verizon Communications helped lead the way following its better-than-expected profit report. Other market heavyweights slated to report their results for the spring this week include Alphabet, Coca-Cola and Tesla. Stock indexes were mixed in Europe but rose in much of Asia, while Treasury yields eased in the bond market.… Continue Reading

20 states sue FEMA for canceling grant program that guards against natural disasters

20 states sue FEMA for canceling grant program that guards against natural disasters

Twenty Democratic-led states have filed a lawsuit against the Federal Emergency Management Agency over the cancellation of a disaster mitigation grant program. The federal lawsuit filed Wednesday in Massachusetts claims President Donald Trump’s administration acted illegally by ending the program in April. The Building Resilient Infrastructure and Communities program funds projects such as flood protection, wildfire prevention and earthquake safety. FEMA called the program wasteful. But supporters say it can help save lives and reduce costly damage from disasters. The lawsuit alleges the Trump administration violated constitutional separation of powers by ending the program without congressional permission to do so.… Continue Reading

Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating that idea in private

Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating that idea in private

WASHINGTON (AP) — President Donald Trump says he’s “highly unlikely” to fire Federal Reserve Chair Jerome Powell. His public statement Wednesday came less than 24 hours after suggesting in a private meeting that he was leaning in favor of dismissing Powell. Trump confirmed to reporters that in a White House meeting Tuesday night with about a dozen House Republicans, he’d discussed the “concept” of dismissing Powell. The Fed chair has long been a target because of his refusal to lower interest rates as Trump wants. Trump’s team recently has accused Powell of mismanaging a $2.5 billion renovation project at the Fed. Trump said Wednesday he’s “highly unlikely” to dismiss Powell — ”unless he has to leave for fraud.”… Continue Reading

Trump slams his own supporters as ‘weaklings’ for falling for what he now calls the Epstein ‘hoax’

Trump slams his own supporters as ‘weaklings’ for falling for what he now calls the Epstein ‘hoax’

NEW YORK (AP) — President Donald Trump is lashing out at his own supporters as he tries to clamp down on criticism over his administration’s handling of much-hyped records in Jeffrey Epstein’s sex trafficking investigation. And Trump told reporters Wednesday that “it’s all been a big hoax” that, in his words, has been ”perpetrated by the Democrats.” He says “some stupid Republicans and foolish Republicans” have fallen “into the net.” The Justice Department and the FBI say Epstein didn’t maintain a “client list” and that no more files related to the investigation would be made public despite promises from Attorney General Pam Bondi that had raised the expectations of conservative influencers and conspiracy theorists.… Continue Reading

Senate votes to move ahead with Trump’s request for $9 billion in spending cuts

Senate votes to move ahead with Trump’s request for $9 billion in spending cuts

WASHINGTON (AP) — Senate Republicans have advanced President Donald Trump’s request to cancel some $9 billion in previously approved spending. They overcame concerns from some lawmakers about what the rescissions could mean for impoverished people around the globe and for local public radio and television stations in their home states. The Senate vote was 50-50, with Vice President JD Vance breaking the tie. Proponents described the bill as a first step in putting the nation’s fiscal house in order. Democrats questioned their intent given that Republicans just passed a major tax and spending cut bill that is expected to increase federal deficits by an estimated $3.4 trillion over the coming decade.… Continue Reading

Pam Bondi dodges questions on Epstein and Bongino amid Justice Department turmoil

Pam Bondi dodges questions on Epstein and Bongino amid Justice Department turmoil

ARLINGTON, Va. (AP) — Attorney General Pam Bondi refused to answer questions Tuesday about investigate files related to Jeffrey Epstein and her clash with a top FBI official. She’s seeking to press ahead with a business-as-usual approach in the face of right-wing outrage that has plunged the Justice Department into turmoil. Bondi was pressed by reporters at an announcement touting drug seizures. The Trump administration is struggling to contain the fallout of a decision not to release any more records related to the wealthy financier’s sex trafficking investigation.… Continue Reading

Lawmakers visit ‘Alligator Alcatraz’ after being blocked

Lawmakers visit ‘Alligator Alcatraz’ after being blocked

OCHOPEE, Fla. (AP) — Democratic lawmakers are condemning Florida’s new Everglades immigration detention center after making a state-arranged visit. They are describing crowded, unsanitary and bug-infested conditions that officials have dubbed “Alligator Alcatraz.” But Republican legislators said they saw a clean and well-run facility while on the same tour Saturday. The visit came after some Democrats were blocked earlier from viewing the 3,000-bed detention center. The state rapidly built it on an isolated airstrip surrounded by swampland.… Continue Reading

Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners

Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners

BRIDGEWATER, N.J. (AP) — President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1. Trump detailed the planned tariffs Saturday in letters posted to his social media account. It’s a move that could cause massive upheaval between the U.S. and two of its biggest trade partners. European Union Commission President Ursula von der Leyen said the EU may adopt “proportionate countermeasures” if Trump moves ahead with the tariffs. Mexico’s government in a statement described the proposed move by Trump as “unfair treatment.” The letters are part of an announcement blitz by Trump of new tariffs with allies and foes alike, a bedrock of his 2024 campaign that he said would set the foundation for reviving a U.S. economy.… Continue Reading

Harrowing stories of rescue emerge from Texas floods as crews search for over 160 reported missing

Harrowing stories of rescue emerge from Texas floods as crews search for over 160 reported missing

HUNT, Texas (AP) — Texas police described some of the harrowing rescues they conducted after flash floods engulfed camps and homes in the state’s Hill Country. An officer who was trapped himself spotted dozens of people stranded on roofs and waded out to bring them to safety. That’s according to a fellow officer who spoke Wednesday to a news conference. Another off-duty officer tied a garden hose around his waist so he could reach two people clinging to a tree above swirling floodwaters. More than 160 people still are believed to be missing and at least 118 have died in the floods. The floods are now the deadliest from inland flooding in the U.S. since 1976.… Continue Reading

Gains for tech stocks push Nasdaq to another record

Gains for tech stocks push Nasdaq to another record

A rally in big tech stocks led Wall Street to a higher close, lifting the Nasdaq to another all-time high. The S&P 500 rose 0.6% Wednesday. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite rose 0.9%. Nvidia became the first public company to top $4 trillion in value. Merck rose after announcing it would buy Verona Pharma, a U.K. company that focuses on respiratory diseases. Copper prices eased after spiking a day earlier as President Donald Trump said he would impose 50% tariffs on imports of the metal. Treasury yields slipped in the bond market.… Continue Reading

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